Wake Forest University Development Foundation

The organization operates as a supporting organization exclusively for the benefitof Wake Forest University ("WFU") and its wholly-controlled supporting organization,Wake Forest University Foundation ("WFUF"), each of which supported organizationsare 501 (c)(3) organizations. The organization's purposes include: (1) serving asthe recipient of properties contributed to the supported organizations (or theiraffiliate, Wake Forest University Health Sciences), to be held temporarily; (2)managing short-term contributed properties; (3) determining whether and whenprospective contributions of real or personal property should be accepted, retained,liquidated or transferred; (4) obtaining, acquiring, receiving, constructing,erecting or improving properties to which the organization holds title; holding,retaining, leasing, managing, selling, disposing of, or assigning the income fromand/or rights in or to real and personal property; and (5) establishing subsidiaryorganizations or entities.